Cavitation Technologies, Inc (CTI) (OTCQB: CVAT;
Berlin: WTC) announced today that GEA Group AG, Westfalia (GEA)
(Frankfurt: G1A) have entered into a new global technology license,
R&D and marketing agreement with respect to CTi’s patented Nano
Reactor™ technology, processes and applications. Under the new
agreement, GEA has been granted a worldwide exclusive license to
integrate CTi’s patented technology into water treatment application,
milk and juice pasteurization, and certain food related processes. The
license agreement between CTi and GEA has a three year term and provides
$300,000 per year in advanced license fees to CTi.
Igor Gorodnitsky, CTi’s President commented, “This is an important
milestone for our company to expand our relationship with GEA in order
to make our technology available on a worldwide basis. We believe that
GEA, being one of the world’s leading engineering firms in diversified
industries, is uniquely positioned to market and sell our technology and
processes. Longer term, this is an extraordinary opportunity for our
company to deliver accelerated acceptance of our technology, sales
growth and increased shareholder value, thus allowing us to focus on
research and development of new technologies and applications.”
About CTi
Founded in 2007, the company designs and manufactures
state-of-the-art, flow-through, devices and systems as well as develops
processing technologies for use in edible oil refining, renewable fuel
production, expeditious petroleum upgrading, algal oil extraction,
alcoholic beverage enhancement, water treatment, and the extraction of
cannabidiol (CBD). As an add-on to its existing neutralization systems,
the company’s patented Nano Reactor™ allows refiners to significantly
reduce both processing costs and environmental impact, while also
increasing yield.
http://www.ctinanotech.com/
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About GEA
GEA is one of the largest suppliers for the food processing industry
and a wide range of process industries that generated consolidated
revenues of approximately EUR 4.6 billion in 2015. As an international
technology group, the Company focuses on process technology and
components for sophisticated production processes in various end-user
markets. The Group generates more than 70 percent of its revenue in the
food sector that enjoys long-term sustainable growth. As of December 31,
2016, the Company employed about 17,000 people worldwide. GEA is a
market and technology leader in its business areas. The Company is
listed on the German MDAX (G1A, WKN 660 200). In addition, GEA’s share
is a constituent of the MSCI Global Sustainability Indexes. Further
information is available on the Internet at gea.com. If you do not want
to receive any further information from GEA, please send an email to
[email protected]
Forward Looking Statement
This release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. In some cases forward-looking statements can be
identified by terminology such as “may,” “should,” “potential,”
“continue,” “expects,” “anticipates,” “intends,” “plans,” “believes,”
“estimates,” and similar expressions, and include statements regarding
the anticipated installation and the timing of the installation, our
intent to continue to focus on research and development, marketing and
sales of our unique technology, our belief that our company is
positioned for accelerated growth and the expected efforts to be made to
enhance our shareholder’s value. These forward-looking statements are
based largely on the Company’s expectations and are subject to a number
of risks and uncertainties, certain of which are beyond the Company’s
control. Actual results could differ materially from these forward
looking statements as a result of a variety of factors including, among
others, the state of the economy, the competitive environment and our
ability to perform the installation as anticipated and other factors
described in our most recent Form 10-K and our other filings with the
SEC, including subsequent periodic reports on Forms 10-Q and 8-K. In
light of these risks and uncertainties there can be no assurances that
the forward looking statements contained in this press release will in
fact transpire or prove to be accurate. The information in this release
is provided only as of the date of this release, and we undertake no
obligation to update any forward-looking statements contained in this
release on account of new information, future events, or otherwise,
except as required by law.
Cavitation Technologies, Inc.
Contact:
Investor Relations
[email protected]
http://cvat.info/
Phone (818) 718-0905
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